BREAKDOWN: If Prices Keep Going Up, We Might Have to Start Calling It Inflation
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 10 May 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
Every day sees new reports of prices going up – from commodities to plastic to fruit. Are we ready to use the “I” word?
This episode is sponsored by Nexo.io and Bitstamp.
Today on the Brief:
- Elon Musk saves an SNL flop with a dogecoin satellite
- Growing interest in Ethereum
- UBS explores offering crypto to wealthy clients
Our main discussion:
The Wall Street Journal and Bloomberg are both running headlines about increasing consumer prices. For now, most pieces like these remain a healthy combination of spot data (in other words specific companies raising prices) and anecdotes versus aggregate data. That isn’t stopping a new inflation narrative from forming, however. Listen to find out what it means.
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Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!)
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Transcript
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| 0:00.0 | One thing that seems for sure is that the dynamics are all coming together. |
| 0:04.1 | Higher wage growth, higher prices, and continued issues with commodities and supply chains |
| 0:08.1 | that all combined can foment exactly the type of inflationary cycle that has been pushing |
| 0:13.1 | big institutions to Bitcoin. |
| 0:15.1 | What's more, market actors are validating this point of view. |
| 0:20.3 | Welcome back to The Breakdown with me, NLW. |
| 0:24.5 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:30.6 | The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDest. |
| 0:37.7 | What's going on, guys? It is Monday, May 10th, and today we are talking inflation. |
| 0:44.2 | First up, however, let's do the brief. |
| 0:46.4 | First on the brief today, how did it go with Elon Musk on SNL? |
| 0:51.6 | Well, basically Doge started almost immediately tanking when everything on the show |
| 0:56.3 | wasn't about it. Elon did mention Doge, but the most extended bit about it was during the |
| 1:01.8 | weekend update segment, which is pretty deep into the show. Also on that segment, he called it a hustle. |
| 1:08.3 | You could see the internet's betrayal written all over their faces, |
| 1:11.5 | aka their tweets, and the price of Doge fell something like 30% while he was actually on it. |
| 1:17.0 | People felt sad, they felt betrayed, and they realized that Saturday Night Live is truly an |
| 1:22.0 | unfunny show. But then there was, of course, a new twist in the story. On Sunday, Elon tweeted, |
| 1:28.3 | SpaceX launching satellite Doge 1 to the moon next year. Mission paid for in Doge, |
| 1:33.0 | first crypto in space, first meme in space, to the moon. Basically, a Canadian-based company |
| 1:39.4 | is paying entirely in Dogecoin to hitch a ride onboard board a space X satellite. With that news, |
| 1:46.2 | Doge has started to regain some of what it lost, so who knows? Can it still make a run at $1? |
... |
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